South Korea grants loan to Mozambique for installation of solar power plants

20 October 2010

Seoul, South Korea, 20 Oct – The South Korean government announced on Tuesday in Seoul that it had granted a US$35 million loan to Mozambique for the installation of three solar power plants.

A Finance Ministry communiqué indicated that the loan would be channelled via the Cooperation Fund for Economic Development and would mature in 40 years, have a 15-year grace period and be interest-free.

The three complexes will be located in northern Mozambique’s Niassa province and have a joint installed power capacity of 400/500 kilowatts.

The loan amount covers the supply of equipment along with the training needed to assure operations and maintenance. (macauhub)